Selected Data for Lemon Grass,Inc What Is the Total Manufacturing Overhead?
A)$442,000
B)$56,000
C)$69,700
D)$13,700

question 180

Multiple Choice

Selected data for Lemon Grass,Inc.for the year are provided below: $$\begin{array} { | l | r | } \hline \text { Factory Utilities } & \$ 1000 \\\hline \text { Indirect Materials Used } & 34,000 \\\hline \text { Direct Materials Used } & 292,000 \\\hline \text { Property Taxes on Factory Building } & 5900 \\\hline \text { Sales Commissions } & 85,000 \\\hline \text { Indirect Labor Incurred } & 22,000 \\\hline \text { Direct Labor Incurred } & 150,000 \\\hline \text { Depreciation on Factory Equipment } & 6800 \\\hline\end{array}$$ What is the total manufacturing overhead?

• A)$442,000
• B)$56,000
• C)$69,700
• D)$13,700

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Definitions:

Repossession

The act of a creditor or lessor taking back goods or property from the debtor or lessee, usually due to failure to meet the terms of an agreement.

Default

Failure to fulfill a legal obligation, especially the failure to pay back a loan on time or to meet the terms of a contract.

Collateral

Property or assets pledged as security for a loan, which can be seized by the lender if the loan is not repaid.

Defaulted On The Loan

A situation in which a borrower fails to make the agreed-upon payments on a loan within the specified time, leading to a breach of the loan agreement.